More Adjusting Entries (We are Murk Automotive and Towing!!) a. On July 1, 2015, a 3 year insurance premium on equipment in the amount of $600 was paid and debited in full to Prepaid Insurance on that date. Coverage began on July 1. b. At the end of 2015, the unadjusted balance in the Office Supplies account was $1,000. A physical count of supplies on 12/31/15 indicated supplies costing $200 were still on hand. c. On 12/31/15, Terry's Garage completed repairs on one of Murk's trucks at a cost of $800. The amount is not yet recorded. It will be paid during January 2016. d. On 12/31/15, the company completed a contract for an out of state company for $7950, payable